Trust Point Inc. Sells 2,424 Shares of CBRE Group, Inc. (NYSE:CBRE)

Trust Point Inc. cut its stake in shares of CBRE Group, Inc. (NYSE:CBRE - Free Report) by 57.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,765 shares of the financial services provider's stock after selling 2,424 shares during the period. Trust Point Inc.'s holdings in CBRE Group were worth $231,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of CBRE Group by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,904,316 shares of the financial services provider's stock valued at $1,035,229,000 after purchasing an additional 245,821 shares during the period. Cantillon Capital Management LLC increased its stake in CBRE Group by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 4,748,386 shares of the financial services provider's stock worth $623,416,000 after buying an additional 25,142 shares in the last quarter. Franklin Resources Inc. raised its holdings in CBRE Group by 17.3% during the fourth quarter. Franklin Resources Inc. now owns 4,100,770 shares of the financial services provider's stock valued at $538,390,000 after acquiring an additional 605,403 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of CBRE Group by 290.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,050,089 shares of the financial services provider's stock valued at $531,736,000 after acquiring an additional 3,011,566 shares in the last quarter. Finally, Norges Bank bought a new position in shares of CBRE Group in the fourth quarter worth about $514,609,000. Institutional investors own 98.41% of the company's stock.

CBRE Group Price Performance

CBRE stock traded up $1.09 during trading on Thursday, hitting $133.35. 1,164,946 shares of the company's stock traded hands, compared to its average volume of 1,820,556. CBRE Group, Inc. has a 52 week low of $85.74 and a 52 week high of $147.75. The stock has a market capitalization of $39.75 billion, a price-to-earnings ratio of 40.78 and a beta of 1.29. The business has a fifty day simple moving average of $125.07 and a 200 day simple moving average of $130.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. The firm had revenue of $8.91 billion during the quarter, compared to the consensus estimate of $8.73 billion. CBRE Group had a net margin of 2.74% and a return on equity of 17.37%. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. As a group, research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CBRE shares. Keefe, Bruyette & Woods lifted their target price on CBRE Group from $129.00 to $131.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. UBS Group reduced their price objective on shares of CBRE Group from $146.00 to $130.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wall Street Zen downgraded shares of CBRE Group from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Morgan Stanley restated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $150.33.

Insider Activity

In related news, insider Chad J. Doellinger sold 494 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $126.05, for a total transaction of $62,268.70. Following the transaction, the insider now directly owns 27,945 shares in the company, valued at approximately $3,522,467.25. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 1,972 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the sale, the chief financial officer now directly owns 105,371 shares of the company's stock, valued at approximately $13,603,396.10. The trade was a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,599 shares of company stock valued at $333,600 in the last ninety days. Insiders own 0.42% of the company's stock.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.